News

ABU DHABI / WAM In line with its mission of encouraging innovation among the youth and promoting SMEs, Khalifa Fund for Enterprise Development has invited creative entrepreneurs to participate in the second edition of ‘Pitch@PalaceUAE’ and the first edition of ‘Pitch@PalaceGCC, a competition being held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of ...

Bloomberg Teva Pharmaceutical Industries Ltd. plummeted the most in six months after US sales fell amid price erosion for generic drugs, the company’s biggest business. The 18 percent slump in overall second-quarter sales to $4.7 billion trailed analysts’ average estimate and was led by a decline in sales of copycat drugs in North America. Rapid approvals for generic medicines and ...

Bloomberg Falling prices and government mandates are set to boost sales of electric vehicles globally, making owning and operating charging infrastructure an attractive area for investment. Charging infrastructure in North America will draw $18.6 billion by 2030, according to a report by Wood Mackenzie Ltd. It’s not just North America that’s benefiting. There will be as many as 40 million ...

Bloomberg The latest US jobs report showed the kind of gains that justify the Federal Reserve’s plans to keep raising interest rates and also give central bankers little urgency to pick up the pace. Employers added workers at a steady, albeit cooler, pace in July, and the prior two months were revised higher, Labor Department figures showed. Wages extended their ...

Bloomberg China intends to slap duties on US shipments of some fertilisers as part of a $60 billion ramp up in a trade war between the two nations. The good news for US producers is the move is unlikely to have any significant impact on their business. It’s “no concern,” RBC Capital Markets analyst Andrew Wong said in an email. ...

Bloomberg When the Acura NSX debuted at the Chicago Auto Show in 1989, it featured such newfangled technologies as an all-aluminum monocoque body, forged pistons, and titanium connecting rods. At the time, it was regarded as the best sports car ever produced by an Asian brand. “It was looked at as a fantastic car, relative to what you could buy ...

Bloomberg China is threatening to impose a 25 percent tariff on imports of US liquefied natural gas, potentially a major blow to an emerging American business. It’s the first time the fuel has been ensnared by the trade war, coming as part of a $60 billion response to a Trump administration plan to impose more levies. The move adds new ...

Bloomberg It’s turning into a good week for Eskom Holdings SOC Ltd., South Africa’s state-owned electricity company. The cash-strapped utility’s borrowing costs fell as it tapped international debt markets for the first time in more than three years, barely a week after it secured a $2.5 billion loan from China Development Bank. It also moved closer to a wage deal ...

Bloomberg Saudi Arabia, which recently pledged oil-supply increases to tame rallying crude prices, cut production last month, according to OPEC delegates familiar with the matter. The biggest member of the Organization of Petroleum Exporting Countries pumped 10.3 million barrels a day in July, according to the delegates, who asked not to be identified because the data is private. The kingdom ...

Bloomberg The trade war between the world’s two biggest economies is taking on a life of its own. When President Donald Trump first threatened to slap tariffs on Chinese goods in March to punish Beijing for stealing American intellectual property, trade experts warned the two nations risked slipping into a downward spiral of tit-for-tat trade actions. The global economy now ...